Heavy-duty caster wheels are frequently used to support relatively heavy loads transported by small forklift trucks, material handling carts, and the like. To adjust the height of the caster wheel, many designs require the caster wheel to be partially or entirely disassembled. Other caster wheel designs provide angular or height adjustment by accessing fasteners and/or springs from the bottom or sides of the caster wheel. In either instance, adjusting the height of the caster wheel may be a timely and inconvenient task. Therefore, a need exists for a quick and simple method for providing vertical adjustment of the caster wheel.